What is a fixed rate term loan and how does it work?
Article Index
- 1 What is a fixed rate term loan and how does it work?
- 2 Looking For A Fixed Rate Term Loan?
- 3 Do I Qualify For A Fixed Rate Term Loan?
- 4 What’s needed to apply?
- 5 What are the typical options?
- 6 Easy Application Process
- 7 Fixed Interest Rates
- 8 No Up-Front Fees
- 9 Predictable Payments
- 10 We're Waiting For Your Application!
- 11 The best customer service
- 12 Great guys
- 13 Great customer service from Remo
- 14 Excellence!!
- 15 Great company and great guys that helped me
- 16 We love this company
A fixed-rate term loan has an interest rate which stays the same for the loan’s entire term. For example, you could have a loan with a five-year term during which the interest rate is “locked in.”
The payments on a fixed-rate loan are blended, meaning they combine interest and principal in an equal monthly amount that does not change over the term of the loan.
The principal amount of the loan and the rate are set by an agreement which binds both the lender and the borrower to the deal. Under a fixed-rate loan agreement, as long as the borrower makes payments as scheduled, the lender cannot demand repayment.
Fixed-rate loans make budgeting predictable, which can be beneficial to a business.
Do I Qualify For A Fixed Rate Term Loan?
Qualifying for a fixed rate term loan is not as difficult as you might think!
Depending on the amount you are looking to secure, there are minimum criteria that you must meet, including:
- 680+ Fico Credit Score
- $50,000 personal income
What’s needed to apply?
- PBC application
- 4 months of business bank statements
- Recent credit report
- Most recent personal tax return
What are the typical options?
- $25,000 – $300,000 range of funding
- 5 to 7 Year Terms
- 5% – 15% is the typical interest range
- No pre-payment penalties
Easy Application Process
Fixed Interest Rates
No Up-Front Fees
Predictable Payments
Apply now or give us a call at (800) 508-4532 for more information about how we can help you get the small business funding you need.
The best customer service
Remo is always there for me when I need him. I even text him on his day off and he replied right away. Thanks Remo for your help
Great guys
Remo was the best answered all questions and got funded the same day everything he said he stood behind great guy
Great customer service from Remo
Remo was excellent and very helpful doing the whole process. He’s a man of his word and does a very good job at getting you funded. Keeps in touch doing the whole process and is very,very responsive to calls and messages.
Thanks Remo for a job well done 👍
Excellence!!
I dealt with Remo…he was so awesome! Helped me get a much needed loan as quickly as possible…helped me out through each step…He is just a great rep! Thank you so much!!
Great company and great guys that helped me
Great company to work with they do there and get your funds !!! They’re 100% real hard worker’s
We love this company
We love this company working with Rean and his wonderful staff made it easy the funds were always there just at the right time.